Sonic Labs, previously referred to as Fantom, has introduced a bounty program aimed toward incentivizing developer exercise forward of the Sonic community launch.
The Sonic Growth and Sonic Gems bounty program seeks to assist the primary wave of purposes on the Sonic platform, in line with a press launch. The initiative targets key blockchain verticals, together with exchanges, funds, tooling, stablecoins, gaming, and lending, amongst others.
Fantom (FTM) will transition to Sonic (S) later this yr.
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Boosted rewards for customers
Sonic Gems are factors that can enable holders to earn a share of the brand new Sonic token. Builders will obtain Gems, which can then be distributed to customers.
The bounty program will run for almost 13 weeks, concluding on Nov. 4. Throughout this era, as much as 30 initiatives will obtain Gems as a part of a 190.5 million S airdrop, accounting for 37.5% of the allocation. Customers have the chance to entry quite a lot of purposes and profit from boosted rewards.
The whole reward is roughly $28 million, Sonic Labs famous in a submit on X.
We’re adamant about offering our ecosystem of builders with the rewards they deserve, each within the brief and long run, and we’re thrilled to roll out Sonic Growth to perform simply that. I can’t wait to see our builder’s artistic options as we put together for Sonic’s mainnet launch later this yr.
Michael Kong, chief govt officer of Sonic Labs.
Sonic’s upcoming mainnet follows the Fantom Basis’s launch of the Sonic improve, which goals to supply a layer-1 community with excessive throughput. Sonic is able to processing over 10,000 transactions per second, a big enhance from the 2000 TPS doable with the Fantom Opera community.
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